Provident Bank seeks leased space at Exeter Town Hall

Friday

Aug 29, 2008 at 2:00 AM

EXETER — The anticipated move next month of the Exeter Area Chamber of Commerce from its Town Hall space to Front Street has prompted The Provident Bank to present plans to lease the space in the lower level of Town Hall. Bank representatives presented this idea to the Exeter Board of Selectmen on Monday, Aug. 25.

Jennifer Feals

EXETER — The anticipated move next month of the Exeter Area Chamber of Commerce from its Town Hall space to Front Street has prompted The Provident Bank to present plans to lease the space in the lower level of Town Hall. Bank representatives presented this idea to the Exeter Board of Selectmen on Monday, Aug. 25.

The bank, which has branches in Amesbury and Newburyport, Mass. and Seabrook and Portsmouth, hopes to move into the Exeter area permanently, said Regional Vice President Allison Field. Field said the bank would like to temporarily lease the lower level of Town Hall for one year, beginning Sept. 1, at $15 per square foot, plus utility costs. Field said the bank is pursuing a permanent location in town.

Along with the lease proposal, the bank proposes making improvements to the property, at its own expense, including new door locks, a security system, an automated teller machine, interior paint and possible carpeting.

"It would be a mutual benefit for the bank and for the town to earn rental income and the bank would improve the space somewhat, cosmetic alterations, and at the end of the term we would leave you, hopefully, with a better space than we entered into," Field said.

Selectman Bob Eastman questioned whether the proposal had been reviewed by the Code Enforcement Officer Douglas Eastman and cited possible concerns such as parking. Town Manager Russell Dean said he wanted the board to review the idea before passing it onto the CEO, who will review the proposal before the board meets again in two weeks.

The bank intends to operate Monday to Friday, 8 a.m. to 6 p.m., with abbreviated hours on Saturdays and Sundays of approximately four hours per day.

With ongoing discussions of renovations to the current Town Offices and Town Hall, Eastman asked whether this space could be used in the interim by a department such as the town clerk's office.

"Since when did the town get into the business of leasing municipal facilities for retail space," Eastman asked. "I am wary of starting to lease town facilities for retail purposes when right now we say we need to expand our office space for the Town Offices."

Selectwoman Julie Gilman, who is board representative on the Town Building Advisory Committee, said the space was not intended for use as part of the interim plan presented by the committee while a permanent proposal for the Town Offices is pursued.

Field said other locations in town were considered and that a market-rate analysis was conducted of commercial properties in Exeter, with $15 per square feet plus utilities determined as a fair-market rate.

It was noted that the $16,200 per year that would be brought in with the lease would cover property taxes of the location.

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